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ACCUMULATED OTHER COMPREHENSIVE LOSS | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE LOSS | ACCUMULATED OTHER COMPREHENSIVE LOSS The following tables summarize the activity within accumulated other comprehensive loss during the three and nine months ended September 30, 2024 and 2023. Certain prior period amounts have been updated to reflect the gains and losses on hedge instruments that were reclassified to the income statement.
(in millions) | Foreign currency translation adjustments |  | Hedge instruments |  | Defined benefit retirement plans |  |  |  | Total
Beginning balance, June 30, 2024 | $ | (816) |  |  | $ | 10 |  |  | $ | (132) |  |  |  |  | $ | (938) |
Comprehensive (loss) income before reclassifications | 143 |  |  | (23) |  |  | (1) |  |  |  |  | 119 |
Income taxes associated with comprehensive (loss) income before reclassifications | 16 |  |  | — |  |  | 3 |  |  |  |  | 19 |
Reclassification from accumulated other comprehensive (loss) income | — |  |  | (5) |  |  | (1) |  |  |  |  | (6) |
Income taxes associated with comprehensive income (loss) reclassified into net earnings | — |  |  | — |  |  | (2) |  |  |  |  | (2) |
Ending balance, September 30, 2024 | $ | (657) |  |  | $ | (18) |  |  | $ | (133) |  |  |  |  | $ | (808) |
(in millions) | Foreign currency translation adjustments |  | Hedge instruments |  | Defined benefit retirement plans |  |  |  | Total
Beginning balance, June 30, 2023 | $ | (806) |  |  | $ | 42 |  |  | $ | (134) |  |  |  |  | $ | (898) |
Comprehensive (loss) income before reclassifications | 17 |  |  | 1 |  |  | 5 |  |  |  |  | 23 |
Income taxes associated with comprehensive (loss) income before reclassifications | (13) |  |  | — |  |  | 1 |  |  |  |  | (12) |
Reclassification from accumulated other comprehensive (loss) income | — |  |  | (12) |  |  | 1 |  |  |  |  | (11) |
Income taxes associated with comprehensive income (loss) reclassified into net earnings | — |  |  | — |  |  | (1) |  |  |  |  | (1) |
Spin-Off of PHINIA | (20) |  |  | (1) |  |  | 5 |  |  |  |  | (16) |
Ending balance, September 30, 2023 | $ | (822) |  |  | $ | 30 |  |  | $ | (123) |  |  |  |  | $ | (915) |
(in millions) | Foreign currency translation adjustments |  | Hedge instruments |  | Defined benefit retirement plans |  |  |  | Total
Beginning balance, December 31, 2023 | $ | (719) |  |  | $ | 28 |  |  | $ | (137) |  |  |  |  | $ | (828) |
Comprehensive income (loss) before reclassifications | 67 |  |  | (19) |  |  | 7 |  |  |  |  | 55 |
Income taxes associated with comprehensive income (loss) before reclassifications | (5) |  |  | — |  |  | 2 |  |  |  |  | (3) |
Reclassification from accumulated other comprehensive (loss) income | — |  |  | (27) |  |  | (4) |  |  |  |  | (31) |
Income taxes associated with comprehensive income (loss) reclassified into net earnings | — |  |  | — |  |  | (1) |  |  |  |  | (1) |
Ending balance, September 30, 2024 | $ | (657) |  |  | $ | (18) |  |  | $ | (133) |  |  |  |  | $ | (808) |
(in millions) | Foreign currency translation adjustments |  | Hedge instruments |  | Defined benefit retirement plans |  |  |  | Total
Beginning balance, December 31, 2022 | $ | (750) |  |  | $ | 4 |  |  | $ | (130) |  |  |  |  | $ | (876) |
Comprehensive income (loss) before reclassifications | (51) |  |  | 49 |  |  | 1 |  |  |  |  | (1) |
Income taxes associated with comprehensive income (loss) before reclassifications | (1) |  |  | — |  |  | — |  |  |  |  | (1) |
Reclassification from accumulated other comprehensive (loss) income | — |  |  | (22) |  |  | 2 |  |  |  |  | (20) |
Income taxes associated with comprehensive income (loss) reclassified into net earnings | — |  |  | — |  |  | (1) |  |  |  |  | (1) |
Spin-Off of PHINIA | (20) |  |  | (1) |  |  | 5 |  |  |  |  | (16) |
Ending balance, September 30, 2023 | $ | (822) |  |  | $ | 30 |  |  | $ | (123) |  |  |  |  | $ | (915) |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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